UK workers' savings would last just four months if they lost their income, according to research from Canada Life Group Insurance.
The survey carried out by the group risk insurer found that: • 19 million UK employees do not have any form of income protection • More than two in five (44%) of these would rely on savings if they were unable to work • The average savings pot of £8,849 would last just 16 weeks, however, based on typical expenditure • One in 10 (9%) workers do not worry about losing income as they believe they could live off State benefits • Yet more than half (53%) could not survive on Work-Related Employment and Support Allowance Six in 10(61%) UK workers do not have any form of protection to re...
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